Haleon Q3 2025 Trading Statement

Good growth driven by Oral Health and VMS

• Q3 organic revenue² growth of 3.4% with price up 1.8% and volume/mix up 1.6%
• Good organic revenue growth across EMEA & LatAm of 5.3% and Asia-Pacific up 5.1%
• North America organic revenue grew 0.4% with consumption growth ahead of the market³
• Continued outperformance in Oral Health with organic revenue growth of 6.9%; improvement in VMS with organic revenue growth of 4.9% underpinned by strong growth in Centrum in EMEA & LatAm
• Innovation delivering sustainable growth with successful launches from the continued roll out of the Clinical Platform for Sensodyne and innovations across both parodontax and Polident/Poligrip. Continued strength for Centrum Daily Kits in China and launch of new offerings across OTC including Otrivin Nasal Mist, Voltaren 2% and Panadol Dual Action
• Emerging markets⁴ revenue up 7.1%; India up double digits and China up mid-single digit

Disciplined capital allocation underpinning shareholder returns

• YTD returned c.£1.1bn to shareholders through c. £500m in share buybacks and c.£600m in dividends

Reiterating FY 2025 guidance

• Organic revenue growth expected to be around 3.5% assuming a normal cold and flu season
• Positive operating leverage expected to deliver high single digit organic operating profit growth

Brian McNamara, Chief Executive Officer, said: 

“We delivered a good performance in the third quarter. All regions delivered positive organic revenue growth, driven by strong in-market execution and the continued roll-out of our innovation pipeline. 

EMEA & LatAm performed well, and we continued to grow market share in North America despite a challenging consumer environment. Oral Health was the standout performer, with innovation driving strong market share gains for Sensodyne and parodontax. VMS also delivered a good performance, supported by new launches for Centrum, Emergen-C, and Caltrate.

We continue to deliver against our capital allocation priorities and so far this year have returned £1.1 billion to shareholders, and during the quarter, we completed the £500m share buyback programme we allocated to 2025. 

We're also making strong progress with our productivity programme to drive gross profit growth. We are on track to deliver our FY guidance and remain confident in our medium-term outlook.”

2025 Outlook

For FY 2025 the Group expects:

• Organic revenue growth to be around 3.5% assuming a normal cold and flu season
• High-single digit organic operating profit growth
• The net impact of M&A5 to dilute FY 2025 revenue and adjusted operating profit by c.2.0% and c.5.5% respectively. This includes the disposals of ChapStick and Haleon’s Nicotine Replacement Therapy (NRT) business outside the US during 2024
• Net interest c.£260m; adj. effective tax rate c.24.5%; non-controlling interest charge c.£10m

Foreign exchange

The Group expects a foreign exchange translation headwind of c.(3.3)% and c.(5.1)% to negatively impact net revenue and adjusted operating profit respectively. This is based on Bloomberg forward consensus rates averaged over 2025⁶.

About Haleon plc

Haleon (LSE/NYSE: HLN) is a global leader in consumer health, with a purpose to deliver better everyday health with humanity. Haleon's product portfolio spans six major categories - Oral Health, Vitamins, Minerals and Supplements (VMS), Pain Relief, Respiratory Health, Digestive Health and Therapeutic Skin Health and Other. Its long-standing brands, such as Advil, Centrum, Otrivin, Panadol, parodontax, Polident, Sensodyne, Theraflu and Voltaren, are built on trusted science, innovation and deep human understanding.

For more information please visit www.haleon.com.